New Sacramento arena agreement not finalized just yet

Here’s the Sacramento Bee with a report on the ongoing quest for a new Sacramento NBA arena:

The Sacramento City Council’s historic vote on the new downtown arena for the Kings won’t take place May 13, after all.

Unable to complete the fine points of the development agreement in time, Sacramento officials Saturday postponed indefinitely the vote on the Downtown Plaza project and the city’s proposed $255 million subsidy.

Nonetheless, officials said they remained confident the deal is moving forward, the delay will be brief and the project’s October 2016 scheduled opening isn’t in peril.

“The definitive agreements are in the last stages of completion and will be finalized soon,” the city said in its announcement.